WOW.AX rises to highest close since May 5, 2015
Woolworths Ltd (WOW.AX) Technical Analysis Report for May 18, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, WOW.AX finished the week 1.5% higher at 29.03 after gaining A$0.10 (0.35%) today. Today's closing price of 29.03 marks the highest close since May 5, 2015. Closing above Thursday's high at 28.93, Woolworths Ltd confirms its breakout through the prior session's high having traded A$0.26 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (WOW.AX as at May 18, 2018):
Friday's trading range was A$0.26 (0.9%), that's below last trading month's daily average range of A$0.31. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.
Prices are trading close to a key support level at 28.88.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.